Honestly. I am. I just checked. There are whole web pages that tell you about this stuff. But even though I am that old, I’m still too impatient. In trading and life .. that can be fatal. And so I have just made the image below my desktop background.
Because without patience today would have been a really dull and non profitable trading day.
When the markets are slow there is a tendency to either trade through boredom (disaster) or be in a trade then want to pull the plug through boredom (disaster). Today was just like that, but we ended up with some nice profits locked in. So very happy. Here we go ….
Point (A) our Australian traders had a short GBP/USD signal at (A). Simple and sweet. Entry at 1.3573 with a full position in this case @ $20. And then ….. wait. And wait. For a full EIGHT hours with the stop being intelligently moved every bar or two … before getting stopped out on the bounce at point (B) @ 1.3532. 41 points @ $20 for $820.
Then for our European traders and early riser US traders, the Enigma decode delivered again. Half position long entry at point (C) but then the position did nothing for around about four hours. Boy was that a dull time, checking it every 15-30 minutes. I said many times “maybe I should cut it” but each time was discouraged by my fellow traders in our WhatsApp group. Patience works.
Then a slight move up for and hour before the position finally delivered in a 15 minute burst. Out at (d) for an average trade and a little 31 point profit @ $10 for $310 banked. 30 minutes later (E) …. we have a short signal that delivered only another 9 points for $90 to take the day in Europe to $400.
$400 isn’t a great days work, but its another winning day and it does represent and incredible 55 hours work for a minimum wage worker on $7.25, so its not exactly a dogs life. In fact I feel pretty good for a 371 year old. Woof diddy woof diddy woof.